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The purpose of this assignment is to apply your learning from this week to real-world situations to help you better understand how micro and macro-economic factors affect business strategies.
After reading the Case for Analysis in Chapter 1 (ETTA) section 1.1 and 1.2 “Microeconomics/Macroeconomics in a Fast-Food Restaurant “(pp. 7-14) discuss a real business case scenario in which you or someone in the management position at your company needed to consider both the macro and microeconomic factors to analyze a business problem. What were the specific factors at play? What was the outcome of analyzing the business problem? If you don’t have such an experience, please consider a hypothetical scenario.
Economics Theory Through Applications
For this assignment choose two companies in two different industries. After answering those questions above, compare the two companies managerial decision-making process and discuss how those economic factors (micro and macro) affect crafting business strategies.